Ithmaar Bank is geared to facilitate all trade requirements for its customers. Whether for local consumption or for export, we can customise our offering to suit the customer requirement. The facilities can be used towards purchase and sale of raw materials, finished goods, spare parts, and machinery. The customer can apply for a credit line or can issue letters of credit against cash margin.
How to Apply?
For letters of credit against cash margin, visit our Main Branch on the Ground Floor, Seef Tower, Seef District.
For letters of credit against credit line, call us on 13303030 to schedule an appointment with our Business Banking team.
Steps for applying for Letter of Credit against Cash
1. The customer will need to request the bank to open a letter of credit by filling the below mentioned list of documents.
2. The bank requests the customer to deposit a sum of money to a maximum equivalent to the price of the goods to be purchased or imported, to cover the amount of the letter of credit.
3. The bank will thereafter open the letter of credit and collect the issuance fees and charges. The settlement of the letter of credit is effected by utilising the amount of the margin deposited by the customer.
4. The documents received under the letter of credit are sent to the customer.